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bitcoin prices below 3 $ would be rather bearish at this stage
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It would be boring if all would agree with me 
The market will decide who is right or wrong. In my p.o.v the market dynamics have changed a lot. The current rise is very healthy , supported by strong volume.
Sure it will not go up in a straight line. There will be corrections along the way, but I see likelihood of 60-65% that we will not see bitcoin prices below 2 $ in the next weeks and months any more. More details and alerts in the subscriber section.
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All downward trendlines have been broken when we bounced off almost perfectly of the upward trendline. Prepare for more upside!
correct. As we expressed many times in the subscriber section, the reversal from the 2 $ is very strong and can lead to mid term upside to 13.5 $ (38.2% retrace), 17 $ (50% retrace) and 20.6 $ (61.8% retrace). For the sake of Bitcoin, I just hope it will not happen. I would prefer steady, slow, continual rise, like 0.1% per day. What we really do not need is another fake bubble. We need time to build services and convince merchant to start using our PRECIOUS BITS. So, please, do not hurry into rally!
People also wish for slow, 5-10% appreciation of stocks every year for decades, but it does not happen very often. There are always mini bubbles, medium bubbles and big bubbles on the way. |
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All downward trendlines have been broken when we bounced off almost perfectly of the upward trendline. Prepare for more upside!
correct. As we expressed many times in the subscriber section, the reversal from the 2 $ is very strong and can lead to mid term upside to 13.5 $ (38.2% retrace), 17 $ (50% retrace) and 20.6 $ (61.8% retrace). |
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I personally do not think anyone need to rush to buy Silver. I will pick them up when we have silver prices below 10 $.
You where correct on silver before (May this year?), if I recall correctly. However, past performance is not indicative.... Thanks for your appraisement. |
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Yes, based on gold chart analysis, gold has just broken a major trendline and we will soon see declines to the low 1500 and then 1300
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I personally do not think anyone need to rush to buy Silver. I will pick them up when we have silver prices below 10 $.
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correct, dollar notes are the place to be for me
and bitcoins
I'm very sorry about this but can you explain again why bitcoins will do well and gold will not? I can see people going to bitcoin as an alternative to a clearly failed fiat system but the same can be said for gold.
the reasons why I think bitcoins go up and gold down in the neat term are different:
Bitcoin is in a short and mid term uptrend, technically. And fundamentally, we see more real uses for bitcoin every day. A recent example is the launch of http://bitcoindeals.com/ with almost 400,000 products to shop online, similar to amazon.
Gold is in a strong downtrend and has more room to fall, at least to 1300, again, technical reasons.
Fundamentally, I am bullish gold, but it will take some time until it makes sense to buy again, perhaps in 6 -24 months, but not before |
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If you need a good Gucci or Lacoste perfume to neutralize your cigarette smoke, you can buy it for bitcoins at http://bitcoindeals.com
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I can even assume that the S3052 and Mt Gox - is one person ... What thoughts?
I am flattered, but no: I do not even have the basic computer skills to do any bot thing. |
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correct, dollar notes are the place to be for me
and bitcoins
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It is non sensible to recommend gold at this stage.
Seasonality comes and goes and changes very often.
Be careful about gold.
Very likely you can buy it much cheaper in the next months around 1300 , or even 1000 and below.
Oursell signal we gave on bitcoinbullbear.com is still active.
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I pledge another 1 BTC for the 100,000 viewer.
And if this can't be tracked in time, we will postpone to the 111,111 viewer or 150,000 ...
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Cypher,
thanks a lot. much appreciated.
And by the way, your blog is great!
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zby and others:
this is exactly the reason why I do not count the minor subwaves. the risk for error is too high.
I have focused more on the bigger picture which told me that the likelihood is very high that we will enter a major rally.
I think we are in the wave 3 up now which will be much stronger than wave 1 (and wave 1 was +56% !!!)
Some people may be surprised if BTCUSD slices through 4 $ like butter.
Do you mean three-digit prices in 2012? |
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zby and others:
this is exactly the reason why I do not count the minor subwaves. the risk for error is too high.
I have focused more on the bigger picture which told me that the likelihood is very high that we will enter a major rally.
I think we are in the wave 3 up now which will be much stronger than wave 1 (and wave 1 was +56% !!!)
Some people may be surprised if BTCUSD slices through 4 $ like butter.
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